This Is the Best Age for Women to Begin Collecting Benefits

Women generally have a longer life expectancy than men. According to the U.S. Centers for Disease Control and Prevention, it’s 5.3 years longer: 81.1 years compared to 75.8 years for men. That can make retirement planning trickier, particularly with regard to collecting Social Security because benefits are age-dependent.

Waiting to Collect Social Security at 70 Can Boost Your Earnings

A Schroders 2025 US Retirement Survey found that almost half of all Americans of both genders—44%—planned to claim their Social Security retirement benefits before the full retirement age of 67 (for those born in 1960 or later). Only 10% anticipated holding out until age 70. That’s noteworthy because when you choose to start taking Social Security can have a significant impact on the amount you’ll get in monthly benefits.

Here’s an example of how it works as of 2025:

• You’ll receive 100% of your monthly benefit if you begin collecting at full retirement age of 66.
• You’ll receive 108% of your monthly benefit if you wait until age 67.
• You’ll receive 132% of your monthly benefit if you hold out until age 70.

There’s no advantage to waiting until after age 70 to start collecting because your monthly benefit won’t increase beyond that time.

You can begin collecting as young as age 62, but your benefits will be substantially less than if you take them at full retirement age. For example, taking them at 62 in 2025 would mean a benefit that’s 30% smaller.

As an estimate, let’s say your monthly benefits are $2,000 if you wait to begin collecting at your full retirement age of 66. That increases to $2,160 per month, or by 108%, if you wait until you reach age 67. You’ll receive $2,640 per month if you wait until age 70. 

What’s the Optimal Age to Begin Taking Benefits?

Now, let’s look at the female life expectancy of 81 years. Using the figures above, you’ll receive $31,680 every year for 12 years (a total of $380,160) if you wait until age 70 to claim your benefits. That annual amount drops to $25,920 per year (a total of $388,800) if you begin collecting at age 67.

That three-year starting date difference gives you a smaller monthly benefit if you opt for benefits at age 67 but a larger total payout ($388,800 vs. $380,160).

So, the optimal age for a woman to begin taking Social Security may come down to which they feel works best for their financial needs and well-being: a substantially larger monthly income that starts a bit later in life, or a smaller monthly benefit they receive over a longer period of years.

What Happens If You Can’t Wait?

Waiting until age 70 may be the ideal for many women, especially those in good health, but it might be difficult. The Schroders study found that 23% of those surveyed were terrified by the prospect of no longer receiving regular paychecks.

Holding out until your full retirement age should be a primary consideration, even if age 70 is out of reach. But even that may be a stretch if you need income to make ends meet before then.

Be aware that the SSA may withhold some of your benefits, however, if you both work and collect benefits before your full retirement age, depending on the amount you earn annually. If you are under full retirement age, it will deduct $1 for every $2 you earn over $23,400 (the 2025 limit). In the year that you turn full retirement age, this drops to $1 for every $3 of earnings over $62,160 (the 2025 limit). There’s no withholding once you hit that magic full retirement age number. What’s more, the SSA will reset your monthly benefit to make you whole for the money it withheld.

The Bottom Line

The optimal age for you to begin collecting Social Security benefits may ultimately depend on a number of factors, including your need for the income, your ability to keep working, and how much you’ve saved.

The Social Security Administration provides a life expectancy calculator to help you determine how many years you’re likely planning to receive benefits. Importantly, you may be able to withdraw your claim for benefits within the first 12 months after you begin collecting if you change your mind or your circumstances change. You’ll have to repay the money you did receive, however.